Overview
Arbor Realty Q3 net income misses analyst expectations, EPS also misses
Company recognized a $48 mln cash gain from an equity investment
Arbor Realty declares quarterly cash dividend of $0.30 per share
Result Drivers
EQUITY INVESTMENT GAIN - Co recognized a significant $48 mln cash gain from an equity investment
AGENCY LOAN ORIGINATIONS - Strongest qtr since 4Q20 with $1.98 bln in agency loan originations, boosting revenue
INTEREST RATE DECLINE - Decline in weighted average interest rate due to delinquencies and rate modifications in structured loan portfolio
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$2.02 bln
Q3 EPS
Miss
$0.20
$0.23 (4 Analysts)
Q3 Net Income
Miss
$52.01 mln
$52.48 mln (3 Analysts)
Q3 Net Interest Income
$38.26 mln
Q3 Dividend
$0.30
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "hold"
Wall Street's median 12-month price target for Arbor Realty Trust Inc is $11.75, about 1.7% above its October 30 closing price of $11.55
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nGNX6xf244
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)